Morgan Stanley CEO Ted Pick speaks on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland, on January 23, 2025.
Jerry Miller | CNBC
Morgan Stanley announced its third-quarter results before the opening bell on Wednesday.
Here’s how the company reported compared to the expectations of Wall Street analysts surveyed by LSEG:
Earnings per share: $2.80 vs. $2.10 expected Revenue: $18.22 billion vs. $16.7 billion expected
Wall Street trading desk activity has been booming this quarter, and the investment banking industry continues to see a resurgence in merger and IPO activity.
Stocks at or near all-time highs should also strengthen Morgan Stanley’s massive wealth management division.
In short, Wall Street-centric banks like Morgan Stanley and its peer Goldman Sachs are in an ideal situation.
Morgan Stanley stock has risen about 24% this year.
On Tuesday, JPMorgan Chase & Co., Goldman, Citigroup and Wells Fargo each reported profits that beat analysts’ earnings and revenue expectations.
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